Sears Complaint - Sears Credit Cards Interest Rate Hikes
SIOUX FALLS, SOUTH DAKOTA -- I opened my credit card statement today from Sears Credit Cards. I've been a great customer, paying on time, never paying only the minimum, never buying over the limit, etc... However, today my interest rate jumped from 10.24% to 25.24%. My previous interest rate was not an introductory or special rate so this was not expected in the least. When I called to inquire, there was no one who would return the rate or even lower it. I understand that this is the new business as usual for credit cards but there are some lenders out there who are not doing this. For me, I plan to play this card off and then cancel it. I have other cards. Thankfully now, there are other options.